Purple Real Estate Welcomes Umar, Oladimeji to Board

February 22, 2024
Purple Real Estate Income

By Adedapo Adesanya

Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds.

The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director.

The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities.

Commenting on the changes, the Chairman of the board, Mrs Jumoke Akinwunmi, stated, “We are thrilled to welcome Alhaji Aminu Umar and Mr Olasunkanmi Oladimeji to our board. Their expertise and leadership will be invaluable as we navigate our strategic objectives, reposition the company given the ongoing economic challenges, and strengthen our base whilst capitalising on emerging opportunities.

“We extend our gratitude to Mrs Osareme Archibong and Mrs Fiona Ahimie for their contributions to Purple’s growth and achievements this far.”

She said these changes reflect Purple Real Estate Income Plc’s commitment to fortifying its leadership team and capitalizing on new opportunities in the real estate sector.

Mr Umar is a distinguished figure in the Nigerian business landscape and will bring a wealth of experience as the Founder and CEO of Sea Transport Services Nigeria Limited.

His leadership has propelled Sea Transport Group to become West Africa’s primary transporter of crude and clean petroleum products, boasting a substantial market share in the petroleum movement in Nigeria.

His expertise in maritime policies and his connections with local and international trading companies will undoubtedly contribute to Purple’s strategic vision.

On his part, Mr Oladimeji is a seasoned investment professional with over 15 years of experience in Private Equity, Corporate Finance, Fundraising, and Transactions advisory.

His extensive background, including roles at PricewaterhouseCoopers (PwC), Access Bank, and Synergy Private Equity Fund, positions him well to drive Purple’s operational excellence.

Founded almost 10 years ago, Purple commenced operations in 2014 and is responsible for developing the Maryland Mall, a Grade A mixed-use centre that boasts the largest outdoor LED screen in West Africa.

Purple completed its listing and started trading on NASD OTC Bourse as a real estate company on March 23, 2023.

Adedapo Adesanya

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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